The Real Deal Miami

Feds aren’t cutting rates yet

September 17, 2008 03:03PM

The Federal Reserve resisted Wall Street pressure to cut interest rates. The Fed decided to leave a key interest rate — the federal funds rate — unchanged at 2 percent. The central bank said in a statement that it will watch the economic and financial developments and “act as needed,” indicating concern about the risks of weaker growth and higher inflation.
[WSJ] and [Newsday]